eBay to axe 9% of staff in second round of job cuts in 2026

EBAY will eliminate 9 per cent of its workforce, according to a person familiar with the matter, marking the company’s second round of job cuts this year.

The reductions will affect around 1,000 employees, said the person, who asked not to be identified because the details are not public. Reuters reported earlier on the cuts, citing an internal memo from the company’s chief executive officer.

“As we work to capture the significant opportunity ahead, this step was taken to ensure we continue to operate from a position of strength by aligning our teams and resources with our top strategic priorities,” an eBay spokesperson said in an emailed statement.

The company’s shares gained about 1.2 per cent at 11.05 am in New York.

eBay in May rejected a US$56 billion takeover offer from Gamestop chief executive officer Ryan Cohen, describing the bid as “neither credible nor attractive.”

In making the offer, Cohen pledged to find US$2 billion in cost savings within 12 months of the deal closing and suggested that eBay CEO Jamie Iannone’s spending on marketing has been wasteful.

Iannone, who became CEO in 2020, has been focused on boosting sales in select categories including luxury, refurbished items and collectibles.

The latest reductions follow a round of job cuts in February, when eBay said it would eliminate around 800 jobs, amounting to 6 per cent of its workforce at the time. The company also trimmed its staff in early 2023 and early 2024.

Earlier this year, eBay acquired secondhand fashion marketplace Depop, a deal that’s expected to help eBay compete with Lithuanian upstart Vinted, which is expanding in the US.

In August, eBay said the Depop deal was US$200 million more than initially announced, which could weigh on earnings in the third quarter.

The company is set to report financial results on Oct 28. BLOOMBERG